Five Star Bank is committed to restoring high-tech, high-touch banking in the San Francisco Bay Area

RANCHO CORDOVA, Calif., Sept. 03, 2024 (GLOBE NEWSWIRE) — Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”), a holding company that operates through its wholly owned banking subsidiary, Five Star Bank, today opened its first full-service office in San Francisco, further demonstrating its commitment to bringing personalized, concierge banking services to the San Francisco Bay Area.

The approximately 4,000-square-foot, full-service office is located at 345 California Street, Suite 2875 in San Francisco’s Financial District and will accommodate a seasoned team of banking professionals who provide a full suite of treasury products and services, usually available only through large national and global banks, to meet client banking needs and help protect them from fraud. On September 25, Five Star Bank will host an invitation-only grand-opening reception to celebrate its new office with clients, city officials, business and community leaders and media.

“This office opening is the capstone of a series of initiatives including hiring 22 Bay Area banking professionals since 2023. We are very pleased to bring our client-focused, concierge banking services to the San Francisco Bay Area. Our full-service office is open for business and we look forward to welcoming clients for in-person discussions to help them achieve their business goals,” said Five Star Bank President and Chief Executive Officer James Beckwith.

“Five Star Bank provides direct access to banking experts in the commercial, nonprofit and venture banking industries, and beyond. There is no substitute for in-person conversations and connectivity, the hallmarks of doing business with Five Star. Five Star’s commitment to the San Francisco Bay Area marks the return of high-tech, high-touch concierge banking and our new San Francisco office serves as a bridge to advancing existing client relationships and developing new relationships as we continue to build our presence and our business in the Bay Area,” said Five Star Bank’s San Francisco Bay Area President DJ Kurtze.

Five Star Bank’s 28^th floor San Francisco office features a spacious, open floor plan with abundant natural light and beautiful views of San Francisco and the San Francisco Bay in all directions. IN:SITE Design Build Associates, Inc., provided the office design and renderings, with general contracting services by GCI Contractors and office furniture from CRI, San Francisco.

Five Star Bank is a highly respected and trusted banking partner that has earned numerous awards and recognition:

Story continues

• The 2024 Greater Sacramento Economic Council’s Sustainability Award recognizing Five Star Bank’s support of industry growth in the Greater Sacramento region

• 2023 Raymond James Community Bankers Cup

• 2023 Piper Sandler’s Sm-All Stars

• 2023 Independent Banker Top Commercial Banks with More than $1 billion in assets (ranking number 6 in the nation)

• The S&P Global Market Intelligence 2023 Top 50 Best-Performing Community Banks in the nation, ranking number 20 (banks with assets between $3 billion and $10 billion)

• 2024 Bank Director Magazine (RankingBanking), The Best U.S. Banks with assets less than $5 billion, ranking number 5

About Five Star Bancorp
Five Star Bancorp is a bank holding company headquartered in Rancho Cordova, California. Five Star operates through its wholly owned banking subsidiary, Five Star Bank. The bank has eight branches in Northern California. For more information visit https://www.fivestarbank.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections, and statements of the Company’s beliefs concerning future events, business plans, objectives, expected operating results, and the assumptions upon which those statements are based. Forward-looking statements include without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements, and are typically identified with words such as “may”, “could”, “should”, “will”, “would”, “believe”, “anticipate”, “estimate”, “expect”, “aim”, “intend”, “plan” or words or phases of similar meaning. The Company cautions that the forward-looking statements are based largely on the Company’s expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company’s control. Such forward-looking statements are based on various assumptions (some of which may be beyond the Company’s control) and are subject to risks and uncertainties, which change over time, and other factors, which could cause actual results to differ materially from those currently anticipated. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. If one or more of the factors affecting the Company’s forward-looking information and statements proves incorrect, then the Company’s actual results, performance, or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements contained in this press release. Therefore, the Company cautions you not to place undue reliance on the Company’s forward-looking information and statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, in each case under the section entitled “Risk Factors,” and other documents filed by the Company with the Securities and Exchange Commission from time to time.

The Company disclaims any duty to revise or update the forward-looking statements, whether written or oral, to reflect actual results or changes in the factors affecting the forward-looking statements, except as specifically required by law.

Investor Contact:
Heather C. Luck, Chief Financial Officer
Five Star Bancorp
(916) 626-5008
hluck@fivestarbank.com

Media Contact:
Shelley R. Wetton, Chief Marketing Officer
Five Star Bancorp
(916) 284-7827
swetton@fivestarbank.com

The city is also still working to earn back voters’ trust after a spiraling corruption scandal within the Department of Public Works and the Department of Building Inspection, which has led to convictions for Mohammed Nuru, former head of the Director of Public Works, and former Public Utilities Commission General Manager Harlan Kelly.

“Those who undermine our contracting processes and exploit public resources are not welcome to do business with our City and will be held accountable,” said City Attorney David Chiu. “I am proud of our attorneys and investigators who have worked diligently to root out corruption and maintain the integrity of City government”

Meanwhile, those hoping to unseat Breed in the mayoral election are laying out their own plans to combat corruption in City Hall.

“You can’t solve the problem when you are the problem, and we can’t trust the same people who built this broken, corrupt bureaucracy to turn it around,” nonprofit founder and Levi Strauss heir Daniel Lurie said in a statement. “I am the only candidate who will bring a new culture of accountability to City Hall on day one.”

Lurie wants to remove a campaign fundraising loophole where candidates are able to raise more than the $500 contribution limit through ballot measure initiatives. He also wants to raise candidate filing fees for those who have records of ethics misconduct, fully fund the Ethics Commission, require reporting for any meals costing over $500, and create an ethics enforcement dashboard to track campaign finance reports, lobbying disclosures, gifts, contracts and other areas for potential conflicts of interest.

The plan explicitly targets several of the ethics complaints that former interim mayor and supervisor Mark Farrell, who is also running for mayor, has faced in the current election cycle. He has come under scrutiny for his ties to the moderate political organizing group Together SF Action, which has raised millions of dollars through a ballot initiative to slash the number of city commissions.

Farrell faced similar accusations for campaign finance violations during his bid in 2010 for San Francisco Supervisor. The Ethics Commission fined Farrell $191,000 – the largest in the city’s history – and he later paid the city $25,000 to settle the case.

Still, Farrell has sought to portray his candidacy as a break from past City Hall scandals.

“I will bring new transparency and accountability from day one,” said Farrell, who has defended his record on the current campaign trail. “I will centralize all third party non profit contracts under the Office of the Mayor to reduce fraud and waste while bringing greater accountability.”

Supervisors running for mayor criticized Breed for the corruption that has come to light during her administration, pointing to their own efforts to weed out corruption in City Hall from within.

“​​Our current mayor’s administration is one of the most corrupt in San Francisco history,” said Supervisor Ahsha Safaí. “More of her senior officials have been convicted of corruption than in any other administration in modern times.”

The Excelsior supervisor pointed to his efforts to maintain funding for the Ethics Commission when Breed attempted to reduce it and said mandating audits of nonprofits and other city contractors will be a priority if he is elected.

PHOENIX — Arizona Diamondbacks manager Torey Lovullo confirmed first baseman Christian Walker would travel with the club to San Francisco for their three-game series against the Giants starting on Tuesday.

Walker has been on the injured list since June 30 with an oblique strain, and his return appears to be fast approaching.

Before the game, Lovullo said Walker would not necessarily need a second rehab game after the veteran played five innings at Salt River Fields on Saturday. He took ground balls before each of the last two games at Chase Field and has been facing live pitching and hitting off the Trajekt machine — which mimics MLB pitchers.

Walker told Arizona Sports on Monday he was hopeful to play in San Francisco.

The veteran has a .254/.338/.476 batting line, 23 home runs and 71 RBIs this season as Arizona’s everyday cleanup hitter when healthy.

Lourdes Gurriel Jr. remains day-to-day

Lovullo said outfielder Lourdes Gurriel Jr., who left Sunday’s game with left calf tightness, will travel to San Francisco and undergo imaging on Tuesday morning.

Gurriel is still considered day-to-day until Lovullo receives more information on his test results. Gurriel did not enter Monday’s 11-6 loss to the Los Angeles Dodgers, as Pavin Smith started in left field.

Drey Jameson update

The idea of having pitcher Drey Jameson — who has missed this season after Tommy John surgery — get reps in the Arizona Fall League has been discussed internally, Lovullo said pregame.

“I think he’s thrown 11 bullpens to date on a Tuesday-Friday schedule, and we’ll resume that again tomorrow,” Lovullo said. “We’ve been discussing (Jameson pitching this fall). I think it’s a possibility, for sure.”

Follow @alexjweiner